Wall Street analysts forecast that Grocery Outlet Holding Corp. (NYSE:GO) will report earnings per share (EPS) of $0.17 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Grocery Outlet’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.17. The business is expected to issue its next earnings results on Tuesday, November 12th.
On average, analysts expect that Grocery Outlet will report full year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.64. For the next financial year, analysts anticipate that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.74 to $0.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Grocery Outlet.
Grocery Outlet (NYSE:GO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million for the quarter, compared to the consensus estimate of $626.60 million. The company’s revenue was up 12.2% on a year-over-year basis.
Several research analysts have recently weighed in on GO shares. Jefferies Financial Group started coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “buy” rating and a $41.00 price target for the company. Telsey Advisory Group started coverage on Grocery Outlet in a research note on Monday, July 15th. They issued an “outperform” rating and a $40.00 price target for the company. Guggenheim started coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating for the company. Cowen restated an “outperform” rating and issued a $48.00 price target (up previously from $42.00) on shares of Grocery Outlet in a research note on Wednesday. Finally, Deutsche Bank started coverage on Grocery Outlet in a research note on Tuesday, July 16th. They issued a “buy” rating and a $40.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $37.50.
In related news, CFO Charles Bracher purchased 2,610 shares of the business’s stock in a transaction on Monday, June 24th. The stock was acquired at an average price of $22.00 per share, with a total value of $57,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven K. Wilson purchased 20,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $22.00 per share, with a total value of $440,000.00. The disclosure for this purchase can be found here. Insiders purchased 58,530 shares of company stock valued at $1,287,660 in the last ninety days.
A number of large investors have recently added to or reduced their stakes in GO. SG Americas Securities LLC purchased a new position in Grocery Outlet during the second quarter valued at $1,046,000. Janus Henderson Group PLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at approximately $486,000. Emerald Advisers LLC acquired a new stake in Grocery Outlet during the second quarter worth approximately $256,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Grocery Outlet during the second quarter worth approximately $730,000. Finally, Columbus Circle Investors acquired a new stake in Grocery Outlet during the second quarter worth approximately $417,000.
GO opened at $37.60 on Friday. The stock’s 50 day moving average is $35.74. Grocery Outlet has a 1 year low of $27.75 and a 1 year high of $39.56.
About Grocery Outlet
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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